Transcript: Easan Arulanantham: When do I need to start taking Required Minimum Distributions or RMDs? Tom Vaughan: Yeah, this is an interesting question. Lots of people have asked, it used to be 70 and a half. And so some people still think that’s true, it did change to 72. Right. So that’s good to know.
Transcript: Easan Arulanantham: Why are some companies reporting really great quarters, but turning around and laying off staff like Tesla Tesla doubled their earnings from the previous year, and they also recorded record profits, yet they’re trying to trim some of their staff right now. Tom Vaughan: Companies, generally speaking, the employment numbers, the layoffs,
Transcript: Easan Arulanantham: The stock market has been looking good. Is this assault assigned for the long term? Tom Vaughan: Yeah, well, the stock market, you know, it’s actually down this week. So, but definitely, you know, way off is lows that established on the 16th of June. And so we’ve had a really nice
Transcript: Easan Arulanantham: So, what is net worth? And should I care about it? And how do I calculate mine? Tom Vaughan: All right, so the calculation part is pretty easy. You add up everything that is worth something, okay? And that you have. And so that’s what we call an asset, right? Could be
Transcript: Easan Arulanantham: Should I be doing anything differently with my strategy for withdrawing from my beneficiary IRA? Would the proposed rules caused me to have any kind of penalties for missing these withdrawals in the past? Tom Vaughan: This is a question that actually comes up within our client strategy sessions. And it’s a
Transcript: Easan Arulanantham: Should I be looking when planning for retirement to be replacing my income? Or should I be looking to cover my current expenses? You know, how should we planning? You know, by looking to say I have $84,000 of income? Should I be looking to replace 80% of that? Or I only
Transcript: Easan Arulanantham: Why is it better to pull from a non retirement taxable account than a IRA? So an individual retirement account? Tom Vaughan: Okay, so let’s see what we call the buckets of money. Right? Now we got his taxable accounts, people call them individual counts, brokerage accounts, Tod accounts, trust accounts, right,
Transcript: Easan Arulanantham: How do you prioritize goals in retirement? Like not running out of money versus enjoying my retirement and spending my money too? So how do you prioritize that? Tom Vaughan: How do you prioritize good goals of not running out of money versus what I’m going to spend today? Right. So I
Transcript: Easan Arulanantham: So what, what goes into the CPI number? Tom Vaughan: The CPI. So CPI, of course, is consumer price index. This is the big number that they use to determine inflation. There are lots of different inflation measures. There’s PPI producer price index, which is wholesale inflation, there’s PCE personal consumption expenditure,
Transcript: Easan Arulanantham: How much of my income do I need to replace when I retire? Do I have to replace 100%? Or can I just replace a portion of it? Tom Vaughan: Yeah, this comes up all the time, you know, people are trying to figure out what their retirements going to look like,